Employees are planning to leave the workforce for new opportunities once the pandemic is over and recruiting efforts ramp up.
A quarter of employees say they plan to quit their jobs, according to a survey by Eagle Hill Consulting. Millennials and working parents were the most likely populations planning to leave their current job post-COVID.
The majority of employees cited burnout a as the main reason for wanting to quit, the survey found. More than half of employees say they are struggling with burnout during the pandemic, and those employees are four times more likely to leave their organizations than those not feeling burned out.
“Company leaders are still knee-deep dealing with the pandemic, but they have to look ahead to fend off a talent tsunami,” Melissa Jezior, president and chief executive officer of Eagle Hill Consulting, said in a statement. “With more than half of the workforce feeling burnt out, employees may be even more motivated to make a move.”
Read more: Employee mental health is plummeting one year into the pandemic
The incessant stress and anxiety of the pandemic has worn employees down: December marked the lowest levels of employee well-being since the start of the pandemic, according to the Mental Health Index by Total Brain and the National Alliance of Healthcare Purchaser Coalitions.
The Eagle Hill survey found that workload was the top reason employees were feeling burned out. The average workday has increased by an additional three hours during the pandemic, according to NordVPN Teams, a remote software provider.
Burned out employees are less productive and more likely to suffer from other health issues, like depression, high blood pressure and substance use disorders. Burnout, when not addressed, costs employers $125 to $190 billion in lost productivity and healthcare costs, according to Gallup.
Read more: 4 ways to help employees work smarter, not harder
“What we’ve seen is low productivity or less engagement in their job. It's hard to put 100% into everything when you're pulled in 50 different directions,” says Stephanie Williams, a registered nurse and vice president of clinical solutions at Maestro Health. “It’s important that we have employers and benefits that support overall well-being, not only for our physical needs, but to support the mental well-being of our employees.”
Employers boosted mental health resources throughout the pandemic and have provided professional development opportunities and launched engagement strategies to help employees advance. Over a quarter of employers have offered new benefits during the pandemic to support their workforce, according to Fidelity Investments.
Read more: Employers will keep expanding virtual benefits beyond the pandemic
Employers need to keep thinking creatively about what their post-pandemic workplace looks like in order to retain the talent that helped them through these challenging times, Jezoir says.
“Now that vaccinations are underway, there’s light at the end of the tunnel for employees,” she says. “Companies need to think differently and strategically about how they’re going to hold on to their top talent. Otherwise, it will be even more difficult for a business to bounce forward in a post-pandemic economy.”
